XRP Price Rebound Stalls: New Downside Threats Arise

XRP's price experienced a notable increase past the $1.420 mark, but is now undergoing a correction and may aim for further movement as long as it maintains its position above the $1.40 zone.

Key Takeaways

XRP's price initially rose above $1.420 but is now correcting.
Currently, the price remains above $1.40 and the 100-hour Simple Moving Average.
The price needs to settle above $1.450 for potential upward momentum.
If resistance at $1.4250 isn't cleared, a decline may occur.

XRP Price Rebound Stalls

Recent Price Movements

XRP's price began a significant upward trend, exceeding both the $1.40 and $1.420 levels, similar to movements seen in Bitcoin and Ethereum. This uptick allowed XRP's price to surpass the $1.4350 resistance level. The momentum led to an impressive rise, even breaching the $1.450 mark. The price reached a peak of $1.4650 before initiating a correction.

Currently, XRP is trading above $1.40 and the 100-hourly Simple Moving Average. However, a fresh upward move may encounter resistance near the $1.4250 level. The primary resistance lies at around $1.4650, and a successful move above this could see XRP aiming for the $1.50 mark.

XRP Price

If the price surpasses $1.50, it could approach the $1.5250 resistance. Should it continue to gain, the $1.550 barrier would be the next target, with a critical challenge lying near $1.60.

Potential for Downside

If XRP fails to overcome the $1.4250 resistance zone, it may instigate a new downward trend. The initial support level on the downside is approximately $1.40, with a more significant support level around $1.3780.

A downward break and a close below $1.3780 could push the price lower, targeting $1.3550. The subsequent major support is near the $1.3220 zone, and if the downward movement persists, XRP could ultimately test the $1.30 level.

Technical Analysis

Hourly MACD: The MACD for XRP/USD shows increasing bearish momentum.
Hourly RSI (Relative Strength Index): Currently, the RSI is below the 50 threshold.

Major Support Levels: $1.4000 and $1.3780.
Major Resistance Levels: $1.4250 and $1.4650.